Shanta Gold notes high-grade intercepts at Singida

03 October 2016, 07:36

Source - SMW

Shanta Gold announces high-grade intercepts at its Singida project in northern central Tanzania.
Singida is an advanced stage project with a mining licence in place and is expected to become an important contributor to Shanta's growth.
"With New Luika's expanding resource generating strong free cash flow, we have refocused on Shanta's original flagship project at Singida," said CEO Toby Bradbury in a statement.
"The recent Singida drill results increase our confidence that, subject to an updated Feasibility Study, Shanta will be able to significantly increase its production of low cost ounces at an extremely competitive capital cost.
"The results from this latest drilling campaign further reinforce the value that our exploration emphasis is creating and the exciting prospectivity of Shanta's portfolio both at Singida and in the Lupa Goldfield."
HIGHLIGHTS:
- 1m @ 7.72g/t from 68m-69m in SC653
- 3m @ 9.94g/t from 59m-62m in SC657
- 1m @ 12.45g/t from 65m-66m in SC662
- 6m @ 3.81g/t from 52m-58m in SC665
- 3m @ 5.66g/t from 105m-108m in SC668
- 5m @ 6.91g/t from 69m-74m in SC676
- 3m @ 4.44g/t from 100m-103m in SC677
- 12m @ 9.24g/t from 130m-142m in SC679

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